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Shared Ownership Mortgages

Shared Ownership mortgages let you buy your home with help from a housing association.

You’ll gain access to a smaller mortgage with a home that’s partially owned by the housing association. You’ll have the option to buy increasing percentages of the amount the housing association own in future.  

Our highly experienced mortgage brokers will help you consider your options and support you through the process from beginning to end.  

Talk to our expert Shared Ownership mortgage advisers in Birmingham today. We’ll take our time to understand your financial situation and discuss all your best pathways with you. Call us today on: 0345 066 6555 or drop in to see us in Birmingham at Coleshill Road.

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What is Shared Ownership

Who is eligible?

You’ll need to earn less than £90,000 if you live in London or less than £80,000 if you reside outside London.

How is rent calculated for shared ownership mortgages?

You’ll pay rent to the housing association for a portion of the cost of the property.

You can buy between 25 – 75% of the property from the housing association with a mortgage and this percentage can be increased at a later date. The remainder of the value of the property will constitute the rent you will pay to the housing association.

How to apply for a Shared Ownership Scheme

Shared ownership schemes are managed by local Help to Buy agents from the housing association. Your agent will be based in the area where you want to buy your new home.

Which properties can you buy on a Shared Ownership Scheme?

Properties built for shared ownership receive government subsidies so you’ll need to find a property that is eligible under the scheme you choose via your agent. The vast majority of shared ownership properties are new builds.

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Shared Ownership Mortgages Explained

With the housing association paying some of your costs, your shared ownership mortgage will be smaller with lower monthly repayments.

What are shared ownership mortgages

Shared ownership mortgages provide access to lower cost mortgages for those who would otherwise find it difficult to buy a new home. You can choose to own between 25-75% of the property and take out a shared ownership mortgage for this amount.

Terms to consider

There are some important finer details to consider when you’re considering a shared ownership mortgage. Look out for clauses about ground rent doubling which means the cost of your rent will double every 10-12 years, mortgage lenders find these terms off-putting.

Another clause that can affect your accessibility to mortgages are restrictive covenants which limit how much the property can be sold for, to whom and the types of works that can be carried out.  

Staircasing with shared ownership

Staircasing is the term given to the flexibility you’ll have to buy a larger proportion of your home at a later date of your choice. You’ll usually need to buy at least 10% and have the option to make a maximum of around three purchases.

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Pros and Cons of Shared Ownership

There are many ways to buy a new home so it’s always worth considering all your options before you make a decision.


  • Access to low monthly repayments that can often be cheaper than those you would get with a standard mortgage.
  • Staircasing means you can buy larger percentages of your home in future.
  • You don’t usually have to pay Stamp Duty with a shared ownership mortgage.
  • You can benefit from the security of a long lease that lasts until the end of the tenure, usually 99 or 125 years.


  • You will only have access to leasehold properties.
  • You will need to pay ground rent and the service charge.
  • There may be stipulations about the types of works you can do on your home.

Discuss all your options and financial goals with our experienced Shared Ownership mortgage advisers in Birmingham today. Our experienced brokers will help you find the right mortgage product for your financial situation. Call: 0345 066 6555 or drop in to see us at Coleshill Road, Birmingham.


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Frequently asked questions...

My bank will not lend me the amount we need. Can we still buy the house we like?

Blossomfield Mortgages has access to mortgage deals that are not available direct from lenders on the high street. Loan amounts will differ from lender to lender, and some lenders may offer a bigger mortgage than others. Our friendly mortgage brokers will discuss affordability to see which lender’s criteria you meet and how much you can borrow responsibly.

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Can I take out a joint mortgage with a friend or family member?

Yes, you can take out a mortgage with a friend or family member. If this is something you are considering, it's a good idea to speak to a solicitor on whether an agreement (trust deed) would be a good option. A trust deed will give both of you power of sale so you are covered in the event of a dispute.

You should also discuss whether you'll be joint tenants (purchasing the property on a 50/50 basis) or whether you'll be tenants in common, with each of you owning a different share in the property, i.e., one of you will own more of the property than the other.

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I have had some previous issues with my credit history. Will I/we have a mortgage that is a higher rate for 25 years?

Not at all. We regularly review your circumstances and look to get you into a better mortgage rate as soon as possible.

Our specialist mortgage brokers are always on hand to review your circumstances and offer you a competitive rate that meets your circumstances.

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